CTS Co. (CTS) Receives Average Rating of “Buy” from Brokerages

CTS Co. (NYSE:CTS) has received an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. CTS’s rating score has improved by 33.3% from three months ago as a result of various analysts’ ratings changes.

Brokers have set a twelve-month consensus price objective of $31.00 for the company, according to Zacks. Zacks has also assigned CTS an industry rank of 141 out of 256 based on the ratings given to related companies.

Several equities research analysts have commented on CTS shares. Zacks Investment Research lowered CTS from a “hold” rating to a “sell” rating in a research report on Wednesday, February 20th. Gabelli restated a “hold” rating on shares of CTS in a research report on Friday, April 26th. Finally, Cowen started coverage on CTS in a research report on Tuesday, May 21st. They issued an “outperform” rating and a $34.00 price objective on the stock.

CTS stock traded down $0.74 during mid-day trading on Friday, hitting $26.46. The company had a trading volume of 105,464 shares, compared to its average volume of 160,346. The company has a current ratio of 2.48, a quick ratio of 2.05 and a debt-to-equity ratio of 0.19. CTS has a 12-month low of $24.07 and a 12-month high of $39.20. The firm has a market cap of $869.48 million, a PE ratio of 17.29 and a beta of 1.30.

CTS (NYSE:CTS) last released its quarterly earnings data on Thursday, April 25th. The electronics maker reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. CTS had a return on equity of 14.21% and a net margin of 9.78%. The business had revenue of $117.60 million for the quarter, compared to analyst estimates of $115.90 million. During the same quarter in the prior year, the firm posted $0.34 EPS. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts forecast that CTS will post 1.6 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 21st will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.60%. CTS’s dividend payout ratio (DPR) is 10.46%.

A number of hedge funds have recently made changes to their positions in the business. FMR LLC lifted its stake in CTS by 14.0% during the first quarter. FMR LLC now owns 769,465 shares of the electronics maker’s stock worth $22,599,000 after purchasing an additional 94,428 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in CTS by 7.2% during the first quarter. Goldman Sachs Group Inc. now owns 1,512,704 shares of the electronics maker’s stock worth $44,429,000 after purchasing an additional 102,179 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in CTS by 9.1% during the first quarter. ArrowMark Colorado Holdings LLC now owns 557,205 shares of the electronics maker’s stock worth $16,365,000 after purchasing an additional 46,525 shares during the last quarter. Wellington Management Group LLP lifted its stake in CTS by 0.4% during the first quarter. Wellington Management Group LLP now owns 2,984,378 shares of the electronics maker’s stock worth $87,652,000 after purchasing an additional 11,142 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in CTS by 10.4% during the first quarter. Geode Capital Management LLC now owns 387,082 shares of the electronics maker’s stock worth $11,368,000 after purchasing an additional 36,504 shares during the last quarter. Institutional investors own 94.29% of the company’s stock.

About CTS

CTS Corporation designs, manufactures, and sells a range of sensors, electronic components, and actuators primarily to original equipment manufacturers for the aerospace and defense, industrial, information technology, medical, telecommunications, and transportation markets. It offers sensors and actuators for use in passenger or consumer vehicles; electronic components for use in telecommunications infrastructure, information technology and other high-speed applications, switches, and potentiometers supplied to various markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.

See Also: Gap Down Stocks

Get a free copy of the Zacks research report on CTS (CTS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CTS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CTS and related companies with MarketBeat.com's FREE daily email newsletter.